New York (CNN Business) After a big box office weekend for "A Quiet Place," AMC stock was making a lot of noise on Tuesday. AMC Entertainment AMC Shares ofshot up roughly 20% in trading on Tuesday. It's welcome news for the beleaguered theater chain, the biggest in the world, as it attempts to rebound from the coronavirus pandemic. The surge comes right after AMC announced that it raised $230.5 million by selling 8.5 million shares to Mudrick Capital Management. AMC's stock had already been soaring thanks in large part to Reddit, where the popular WallStreetBets board touted the stock last week as a way to hurt short sellers who bet against AMC.

Source: CNN June 01, 2021 16:52 UTC